City Holding Company (CHCO) Announces Dividend Increase – $0.46 Per Share
City Holding Company (NASDAQ:CHCO) announced a quarterly dividend on Thursday, December 14th, Wall Street Journal reports. Stockholders of record on Monday, January 15th will be paid a dividend of 0.46 per share by the bank on Wednesday, January 31st. This represents a $1.84 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, January 11th. This is a positive change from City’s previous quarterly dividend of $0.44.
Shares of City (CHCO) traded down $0.16 on Thursday, hitting $67.68. 55,900 shares of the stock traded hands, compared to its average volume of 57,440. The firm has a market capitalization of $1,059.53, a PE ratio of 17.67, a PEG ratio of 1.77 and a beta of 0.83. City has a 1-year low of $58.80 and a 1-year high of $74.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.90 and a quick ratio of 0.90.
City (NASDAQ:CHCO) last issued its quarterly earnings results on Wednesday, October 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The business had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $47.18 million. City had a net margin of 29.25% and a return on equity of 12.34%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. equities research analysts forecast that City will post 3.83 EPS for the current year.
Several analysts recently weighed in on CHCO shares. BidaskClub raised shares of City from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Zacks Investment Research cut shares of City from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. City currently has a consensus rating of “Hold” and a consensus price target of $70.33.
In related news, CFO David L. Bumgarner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the sale, the chief financial officer now owns 10,965 shares of the company’s stock, valued at $800,445. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.88% of the stock is owned by company insiders.
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City Company Profile
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). As of December 31, 2016, the City National provided banking, trust and investment management and other financial solutions through its network of 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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